Stoneridge Investment Partners LLC Buys Shares of 949 The Cigna Group (NYSE:CI)

Stoneridge Investment Partners LLC purchased a new position in shares of The Cigna Group (NYSE:CI) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 949 shares of the health services provider’s stock, valued at approximately $262,000.

Other institutional investors have also modified their holdings of the company. Thompson Investment Management Inc. boosted its stake in The Cigna Group by 2.8% in the 4th quarter. Thompson Investment Management Inc. now owns 23,095 shares of the health services provider’s stock worth $6,378,000 after purchasing an additional 628 shares during the period. Empirical Finance LLC lifted its holdings in shares of The Cigna Group by 13.7% in the fourth quarter. Empirical Finance LLC now owns 11,792 shares of the health services provider’s stock valued at $3,256,000 after purchasing an additional 1,418 shares in the last quarter. Empowered Funds LLC boosted its position in shares of The Cigna Group by 20.0% during the fourth quarter. Empowered Funds LLC now owns 59,091 shares of the health services provider’s stock worth $16,317,000 after buying an additional 9,868 shares during the period. Moloney Securities Asset Management LLC grew its holdings in shares of The Cigna Group by 30.0% during the fourth quarter. Moloney Securities Asset Management LLC now owns 871 shares of the health services provider’s stock worth $240,000 after buying an additional 201 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its stake in The Cigna Group by 10.4% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 16,422 shares of the health services provider’s stock valued at $4,535,000 after acquiring an additional 1,542 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Down 0.2 %

Shares of CI opened at $286.67 on Friday. The firm’s 50-day simple moving average is $289.85 and its 200 day simple moving average is $322.73. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The firm has a market cap of $79.74 billion, a P/E ratio of 23.42, a price-to-earnings-growth ratio of 0.94 and a beta of 0.54. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same period in the prior year, the business posted $6.79 EPS. On average, analysts forecast that The Cigna Group will post 29.8 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be paid a $1.51 dividend. The ex-dividend date is Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 2.11%. The Cigna Group’s dividend payout ratio is 45.75%.

Wall Street Analysts Forecast Growth

CI has been the subject of several research reports. Raymond James reaffirmed a “strong-buy” rating and set a $360.00 price target (down from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Truist Financial lowered their price target on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Piper Sandler restated an “overweight” rating and set a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Sanford C. Bernstein cut The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective for the company. in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $373.69.

The Cigna Group Profile

The Cigna Group, together with its subsidiaries, provides insurance and related products and services in the United States. Its Evernorth Health Services segment provides a range of coordinated and point solution health services, including pharmacy benefits, home delivery pharmacy, specialty pharmacy, distribution, and care delivery and management solutions to health plans, employers, government organizations, and health care providers.